Best Ethereum Online Casino

The Rise Of The Blockchain

Satoshi Nakamoto, a mysterious person or group, outlined blockchain way back in 2008 and invented Bitcoin. The blockchain can best be described as a digital ledger that keeps track of every transaction that has ever taken place across a particular digital currency. Due to the nature of its cryptography, it is incredibly secure and virtually impossible to crack. The fact that Bitcoin is highly secure and globally distributed made it very appealing to many. People are using Bitcoin for various applications, despite the fluctuations it has suffered throughout the years. The combination of being globally distributed and highly secure made Bitcoin and other blockchain-based digital currencies highly attractive almost as soon as they were invented. It is no wonder that the gambling industry worldwide was also quick to jump onto the Crypto train.

Finding Online Casinos That Accept Ethereum

The number of casinos that accept Ethereum as a deposit method isn't the most extensive list on our website. However, the first on the list are great casinos you should consider. And although not every online casino will accept Ethereum, the currency is gaining popularity. It is being added as a deposit method to more and more casinos as the days pass. However, it is advisable to exercise more caution than usual because of how new Ethereum is to the field. It is essential to read online reviews and learn from the experience of existing players. It is equally important to check the terms and conditions of sites offering Ethereum deposits. Hidden clauses of newer casinos could prove fatal in the long run, and it is better that you realize that before signing up rather than after you try to cash out.

Advantages Of Ethereum For Online Gambling

Several advantages come with using Ethereum for online gambling. The main benefits include:

1. Transparency - Cryptocurrencies gained a lot of popularity due to their ability to keep track of every transaction made using them without revealing the parties' identity. This makes for a great advantage when it comes to online gambling.
2. Security - You want to be calm when you choose to transfer funds from one end of the world to another. Cryptocurrencies and Ethereum specifically handle millions of transactions daily and are trusted by giants like Microsoft, IBM, and JP Morgan. To us players, it makes for an excellent deposit method to use.
3. More accessible, cheaper, and quicker - Ethereum promises to make faster, easier, and less expensive payments like all online wallets based on blockchain. Although these require a small amount of technical know-how, it is bound to get more comfortable with time, and it is worth it.

Disadvantages Of Ethereum For Online Gambling

Although Ethereum and Ether are promising, it isn't wise to adopt them without realizing the risks and issues that accompany them. There are several snags when it comes to using these technologies for online gambling. Some of the critical disadvantages are:

1. Ethereum is a very new platform, which means that the software behind it is pretty new, even if you compare it with Bitcoin. The inherent risk that comes with such new technology cannot be ignored. The risk is even higher if you're an early adopter of the technology, which is why online casinos adopting Ether are at a far higher risk than those who wait and figure out the problems and spend time to solve the loopholes.
2. Using Ethereum requires some amount of technical knowledge, and it is a known fact that even seasoned programmers are facing issues understanding the platform. *Since we originally wrote this article, things have changed a bit, and now using Ethereum is much easier than before.